Economic data for Tokyo, Japan came out over night and we are a bit bewildered. It seem inflation is up in some areas but not in others. Let’s take a look.
Total Core CPI year over year is up at 0.3% and annualized this would end up being 3.6% rate of inflation. The central bank rate in Japan is -0.1% so we expected to see higher inflation but it’s a crazy central bank world out there right now.
In any event, inflation is going up in Mexico, South Korea, Brazil and the United States and that doesn’t bode well for any “transitory” narrative anyone out there wants to propagate.
There is only one thing to do from here.